Wagga real estate has remained stable over the years, with a significant population living and working in this biggest inland city. Many reasons are responsible for the growth and boom of real estate in this city.
They include the presence of the Army and RAAF, university students at Charles Sturt University, and residents working there. The ever-growing property landscape and the increasing house prices are making the location a good destination for real estate investment.
The average rental price in Wagga is about $370 weekly. Are you considering investing in Wagga real estate? Here are the top reasons you should seriously consider it.
Excellent Work Opportunities
Many considerations go into relocating to a new place. You have to consider all opportunities the area offer, especially work opportunities. Wagga offers several work opportunities to residents. A large percentage of the work is from building projects coupled with a large military community in the area.
Students looking for study progression can also live in the city and attend one of the top-rated universities in Australia, Charles Sturt University. Investing in Wagga real estate is a smart decision as you can live and work in a great neighborhood and enjoy several amenities.
Escape from the Hustling and Bustling of City Living
Wagga real estate provides a leeway to escape from city living. If you are tired of the hustle and bustle of city life, the large skyscrapers, and the fast-paced environment the city offers, Wagga is the best destination for you.
The location helps you to take life at a slower pace without giving up on the urban feeling. Wagga real estate offers a hybrid of city life and rural living where you can work and still have time to relax. You also have access to all amenities modern living offers.
Therefore, if you have had it with loud cars, noises, and smoke, and you want to live at a slower pace without giving up on the 21st-century amenities, Wagga real estate is a good choice for you.
Growing Investment Value for Wagga Real Estate
Thanks to the increasing popularity of Wagga real estate, the value continues to soar. This presents excellent investment opportunities to people looking for higher returns on investment. According to reports, the real estate industry in the city has witnessed a 9.3% growth rate in pricing since the first quarter of 2021.
Also, the vacancy rate in the city rivals that of larger cities, like Sydney, making it an attractive residential area. What does this mean? You are guaranteed that your investment property will always have tenants, which means you will always have returns on your investment. Additionally, the timeframe a property stays on the market in the city is slow.
That means you can rent or sell your property within a short timeframe. For instance, houses remained on the market for an average of sixty-seven days before the sale, while rentals sat for about 18 days before they were filled in 2021. This shows that Wagga real estate is a ripe market for investment opportunities.
Final Thoughts
Wagga real estate is increasing in popularity with several benefits to investors. The defense force present in the city significantly contributes to this growth. Additionally, the consistent availability of tenants and guaranteed return on investment make the location a prime spot for investors. People interested in leaving city life without sacrificing the modern living and world have also found Wagga a great location to live. With properties in the area offering a safe and attractive return to investors, Wagga real estate remains a lucrative investment.